January 28, 2020 / 1:12 PM / 22 days ago

Kone confirms interest in Thyssenkrupp elevator business

FILE PHOTO: Kone CEO Henrik Ehrnrooth speaks at a news conference in Helsinki, Finland January 26, 2017. REUTERS/Jussi Rosendahl

HELSINKI (Reuters) - Kone (KNEBV.HE) chief executive Henrik Ehrnrooth confirmed on Tuesday the Finnish company’s interest in its German rival Thyssenkrupp’s (TKAG.DE) elevator business but declined to say whether it had bid or not.

The company was due to make a bid on Jan. 27 for Thyssenkrupp’s elevator business, seen valued at around 15 billion euros ($16.64 billion).

“We believe we would be a good owner for Thyssenkrupp,” Ehrnrooth said, adding Kone would not be interested in a minority stake in its rival.

Thyssenkrupp has also shortlisted three private equity consortia in the auction, sources have told Reuters.

Reporting by Anne Kauranen, editing by Louise Heavens

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